BootstrapLabs, a San Francisco venture capital firm focused on applied AI, led the financing. That company was joined by industry figures such as Herb Shear, who grew 3PL Genco to more than 10,000 employees and more than $1.5 billion in revenue before arranging its sale to FedEx Corp. in 2015.

“Cargo Chief and its investors are excited about helping the 3PL industry, that domestically buys over $80 billion of trucking services, purchase these services more effectively and efficiently to the benefit of both the 3PL and any one of the hundreds of thousands of trucking carriers,” Cargo Chief founder and CEO Russell Jones said. — Transport Topics